Scottsdale Fashion Square owner Macerich (NYSE: MAC) has been giving hints here and there as to what's in store for its multimillion-dollar renovation of the mall's luxury wing.
We now have a few more details as to what will be happening for the next 18 months.
The 1.9 million-square-foot mall is giving the luxury wing — which runs from Palm Court to Dillard's — a complete makeover from head to toe.
"The history of Fashion Square has been a story of complete evolution and growth," said Scott Nelson, senior vice president of real estate services for Macerich. "This is phase 12 of all the renovations we've done at the mall."
Third Quarter 2017
The floor tiles and drywall ceilings will undergo demolition and be replaced with new tile with white marble accents, new column treatments and ceilings, starting next to Palm Court and then move west, with work occurring at night. A new modern handrail will be installed across the second floor, and there will be new seating vignetters and walking bridges on the second floor will be straightened. The demolition will occur in tenting to avoid dust traveling through the center.
Fourth Quarter 2017
There will be a behind-the-scenes buildout of new resort-style restrooms, a new escalator and elevator near Dillard's.
There will be new restaurant pads built on the outside of the wing. A large portion of Fashion Square tenants, as well as new tenants that Macerich seeks out, are first to market. That will be the same case for the restaurants, though there will be some local restaurants joining as well — "the best of the best," according to Kim Choukalas, vice president of leasing for Macerich.
First Quarter 2018
Tile installation begins, and shops and restaurants will undergo construction. The new escalators and elevator will be operational, and the previous escalators and elevator will be demolished.
Second Quarter 2018
Major construction will begin on the mall's northern entrance. The idea for the exterior of the luxury wing is to mimic that of a resort, which Macerich is calling a "grand promenade," with restaurants, palm trees, gardens that lead up to a fountain, luxury valet, and an enhanced parking garage.
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